On 16 April 2013, the House of Commons voted to retain the employee shareholder proposal in the Growth and Infrastructure Bill, which the House of Lords had previously voted to reject in March 2013. The clause would introduce a new employee shareholder employment status, under which an existing employee or new recruit can agree to sacrifice certain employment rights in return for shares in the company. The Commons voted to keep the relevant clause in the Bill by a margin of 277 votes to 239. The Bill will return to the House of Lords on 22 April 2013. The Lords must consider the Commons' amendments and either agree or disagree to them, or make alternative proposals, before sending the Bill back to the Commons. This back-and-forth process will continue until both Houses reach agreement, failing which the Bill itself will fail.
This provides summary information and comment on the subject areas covered. Where employment tribunal and appellate court cases are reported, the information does not set out all of the facts, the legal arguments presented and the judgments made in every aspect of the case. Employment law is subject to constant change either by statute or by interpretation by the courts. While every care has been taken in compiling this information, we cannot be held responsible for any errors or omissions. Specialist legal advice must be taken on any legal issues that may arise before embarking upon any formal course of action.
